Part of the deposit’s allure is that it contains some of the highest quality ore, a product in high demand from steelmakers as it’s less polluting. Rio Tinto Group is looking at new ways to develop the giant Simandou iron ore deposit in Guinea that it almost sold last year, according to people familiar with the matter. The Simandou Mountain Range in south-eastern Guinea has one of the world's largest untapped iron ore deposit. Still, there are huge challenges to navigate. The remaining two southern blocks are controlled by Rio Tinto and a group of Chinese investors led by steelmaking giant Baowu. Efforts to develop the world’s largest known untapped iron ore reserve in West Africa have stalled once more, with a top engineering consultant on the project telling Caixin the Chinese-Singaporean consortium that bought into the Simandou project in June has not substantially invested in it. As iron ore prices climbed this year, the SMB-Winning consortium bought into the Guinean project that is expected to be able to produce as much as 150 million tons of iron ore a year, equivalent to 7% of global production in 2019. Since SMB-Winning secured the northern half of the project’s four blocks of mining rights in government bidding this June, it has released a steady stream of press releases about its progress there. The work also focuses on how to export material out of the country, they said. AFRICA N JUILLET 2019 5 GUINÉE Le pays recherche des développeurs pour la mine de fer de Simandou La Guinée a lancé un appel d’offres international pour les blocs 1 et 2 de Simandou, offrant aux entreprises jusqu’au 2 août pour ... Sécurité et Environnement sur le projet Simandou tout entier. The second-largest miner has rehired consultants to work with its own team to study how the mine can be developed, said the people, who asked not to be identified because the matter is private. Cover Story: Stalled Guinea Project Highlights China’s Struggle to Reforge Iron Ore Supply Chain. projet Simandou est une source importante de création d’emplois et de revenues, l’émergence et la réalisation de ce projet est crucial ... la consultation de 2019 au titre de l’article IV et du sixième et dernier examen du programme de réforme économique de Madagascar . Poised for Vaccine, Outbreak Set to Worsen: Virus Update, Water Futures to Start Trading Amid Growing Fears of Scarcity, Stocks Slide as Pound Drops on Brexit Deadlock: Markets Wrap, Sequoia Capital Warned of a ‘Black Swan.’ Instead, 2020 Is One of Its Best Years Ever. Yet within a year, Rio was stripped of half its rights to the deposit and they were handed to Steinmetz. In 2019, the project achieved a significant milestone ... Rio Tinto and Chinalco, which own 45.05% and 39.95% of Simandou, respectively, continue to work with the government of Guinea to explore options to realise value from the world-class Simandou iron ore deposit. Copyright © 2019 Caixin Global Limited. Winning Consortium seeks listing to raise capital for Simandou To cover a part of the $15bn that the development of blocks 1 and 2 at the Simandou iron ore deposit will cost, the operator Winning Consortium Simandou is looking to raise capital in London. The trouble with exporting ore has made the asset less attractive to buy, as shown by the collapse last year of a planned sale of Rio’s stake to its Chinese partner. Founded in 2014, the SMB-Winning Consortium brings together four global partners in the field of bauxite mining, production and transportation: Singapore’s Winning Shipping Ltd, a leading Asian shipowner; Shandong Weiqiao, a leading Chinese company in aluminum production; UMS, a transport and logistics company present in Guinea for more than 20 … L'une des montagne qui font du paysage de Dubreka, un lieu magique. He Investigate high-potential incidents. But he added that such coordination would not be easy. That stake was taken over by Baowu in June. Alpha Ibrahima has 5 jobs listed on their profile. Rio views this as a long-term structural change in the market and that ore from Simandou will be in demand for decades. The company all but shelved the project three years ago, so much of the work is based around updating its old plans. The government has long insisted the track is essential for national development. Signatures between WCS and the government of Guinea of rail and port conventions in relation with the Simandou projet. 13 November 2019 Rio holds a 45% stake in two of the four blocks that make up the giant Simandou deposit, while state-controlled Chinalco owns 40% and the Guinea government 15%. Cover Story: Stalled Guinea Project Highlights China’s Struggle to Reforge Iron Ore Supply Chain, Rio Tinto, Chinalco Progress on Long-Delayed Guinea Iron Ore Project, Participation of Indian Prime Minister Narendra Modi in the 5th Eastern Economic Forum Discussed in Moscow, Get exposure for your startup at RISE 2020, CreditEase’s Tang Ning: China’s Wealth Management Market is Undergoing Five Major Shifts, Meet 5 of the best startups selected to represent China at the largest technology event in Asia. The project is massive in scale: Rio Tinto in 2016 estimated that tapping its blocks could require investment of $18 billion, and SMB-Winning expects it would need to spend $14 billion on the northern two blocks. Apr 2019 – Jul 2019 4 months. The biggest is that under Rio and Chinese partner Aluminum Corp. of China’s original agreement with Guinea, the company committed to building a $12 billion rail line across the country, more than doubling the mine development cost. The PARCA-GPI will support the implementation of the Simandou project which is an integrated project (mine, railway and port). Operators of all four blocks will need to cooperate for the project to make progress, Li said, and should take political factors into consideration to reduce risks. Goldman Plots Florida Base for Asset Management in a Blow to New York, U.S. 21721 0 Share Mines de Simandou : Une Ong exprime des inquiétudes ! Superintendant des affaires communautaires du projet Simandou Rio Tinto December 2007 – August 2016 8 years 9 months. Guinea has since said some smaller projects can exit through neighboring Liberia, where ArcelorMittal operates a railway. Conakry (Guinea), November 12, 2020 – The projects having been approved by the Council of Ministers of the Government of the Republic of Guinea, and on behalf of the Guinean government, the Ministers in charge of Mines, Budget and Transport have officially signed … View Alpha Ibrahima DIALLO’S profile on LinkedIn, the world's largest professional community. Le mont Kakoulima 1011 mètre. Executives were sent to inspect the new blocks in October, environmental impact work was done, and in November the company inked deals with the Guinea government regarding construction of ports and railways. CBG Expansion Project, Kamsar, Région de Boké/Guinea. The deposit came to prominence in 2007 as Rio fought off a hostile takeover bid from larger rival BHP Group. An agreement to sell the project collapsed last year, and Rio now appears increasingly committed to finding a way to build it. Simandou has caused much trouble for Rio -- the company is subject to criminal probes, two executives were dismissed over payments and it’s still refusing to pay bonuses to its former chief -- but the potential riches are too high to easily walk away from. Have a confidential tip for our reporters? But with more than 10 stakeholders in the project including the Chinese and Guinean governments, pre-construction work will take a long time, and the consortium has yet to put in any “substantial investment,” according to Li Xinchuang, an expert at the China Metallurgical Industry Planning and Research Institute. Rio Tinto is also in touch with multiple companies seeking to share infrastructure, the company’s CEO Jean-Sébastien Jacques said at a press conference on Monday. Signatures between WCS and the government of Guinea of rail and port conventions in relation with the Simandou projet. Rio Tinto has been a stakeholder since 1997, and the Chinese partners joined in 2010 when a Chinalco-led group acquired a stake in the Rio Tinto unit associated with Simandou. AFRICA BULLETIN NOVEMBRE 2019. Read more The steelmaker has said that rivals can only use capacity it doesn’t need and it’s working on plans to expand its own production. For more than a decade, it has been the center of a bitter dispute that includes Vale SA and Israeli mining tycoon Beny Steinmetz. 27 June 2020 (Français) Guinée : l’Assemblée Nationale donne le feu vert à SMB-Winning pour exploiter Simandou, un projet à 15 milliards $ 09 June 2020 ... 06 December 2019 (Français) Vidéo - Ismaël Diakité, AIFA. Guinea has some of the world’s richest iron ore deposits, but has never exported anything. du 13 juillet 2019 portant ouverture de l’appel d’offres pour l’attribution d’un titre minier sur les gisements de minerai de fer des Blocs I et II de Simandou, la Yet there’s renewed interest in the country. En Francais ci-dessous ----- Simandou iron deposit in South-West Guinea is well-known for the decades of a corruption saga, documented by the foreign press and discrediting mining multinationals and Guinean former political leaders. Alpha Condé became in 2010 the first democratically elected President of his country. The Simandou project in the West African state of Guinea holds the the world’s largest known untapped reserve of iron ore. Caixin China Biz Roundup: Mounting Debt and Fiery Disputes – Behind Danke’s Drama, Gallery: Shanghai Coffee Shop Offers Service in a Furry, In 165 countries, China's Beidou eclipses American GPS, In Depth: Beijing’s Biodegradable Plastic Push Hit by High Costs, Capacity Crunch, Cover Story: The Fight Over China’s Law to Protect Personal Data, In Depth: China’s Digital Currency Ambitions Lead the World, Container Shortage Shows China’s Export Dominance During Pandemic. The miner has been exploring the asset since the 1990s, attracted by a resource that’s now estimated at more than 2 billion tons. La Convention de Base du Projet d’Exploitation du Gisement des Blocs I et II du Simandou est entrée en vigueur depuis le 3 juillet 2020 dernier, qui inclut les principes généraux sur la réalisation des infrastructures ferroviaires et portuaires. Before it's here, it's on the Bloomberg Terminal. This biodiversity hotspot is forecast to produce 95 million tonnes of iron ore for export annually, potentially doubling the GDP of the … Among those involved, Li said the Chinese and Guinean governments are most motivated to push things forward, and best positioned to help myriad participating banks and market buyers reach consensus on details. Cette double signature témoigne de notre volonté d'avancer sur le Projet Simandou dans le respect du calendrier établi en 2019 malgré la crise… Liked by Louis Camara Download our app to receive breaking news alerts and read the news on the go. The Kamoa-Kakula Copper Project — a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%) — has been independently ranked as the world's largest, undeveloped, high-grade copper discovery by international mining consultant Wood Mackenzie. Billionaire mining investor Robert Friedland is in talks with BHP about taking control of another asset that has sat dormant for years. Their buy-in has not yet provided much new momentum to a project that has seen little progress over the past two decades, mired in complex political and mining rights disputes, concerns over costs and pressure from industry rivals. Phanar Legal and Sylla & Partners have provided ongoing integrated counsel to the State of Guinea to form a legal framework for the Simandou North project, culminating in the negotiation and conclusion of a mining agreement signed on 8 June 2020; as well as … Guinée. 23/06/2014 [click to view] [2bis] Simandou : la justice américaine rejette la plainte de Rio Tinto contre Steinmetz et Vale, Jeune Afrique, 20/11/2015 [click to view] [4bis] Guinée : le géant minier Rio Tinto quitte définitivement le projet de fer Simandou, 30 Octobre 2016 [click to view] Rio’s latest work on the project could also make it easier to sell should it decide against development. (Français) Vidéo - Le Projet Simandou. Simandou is one of the world’s biggest untapped mineral deposits, but has a controversial past. Any updated plan to develop the mine must be agreed with Chinalco and the government. They were then stripped from the Israeli billionaire in 2014. At the southern end of the range the site of a large iron ore deposit is currently being developed. At the time, Rio used the resource to argue that the company was undervalued. About SMB-Winning Consortium. The Simandou project in the West African state of Guinea holds the the world’s largest known untapped reserve of iron ore. ... equivalent to 7% of global production in 2019. Simandou is a 110-kilometre-long (68 mi) range of hills located in the Nzérékoré and Kankan regions of southeastern Guinea, in the country's mountainous, forested Guinée Forestière region. Simandou deposit in Guinea to be developed by China-backed consortium The consortium comprises Chinese, Singaporean, Guinean and French interests, and will embark on a project to develop 650 kilometres of railway infrastructure – Transguinéen – as well as a deep-water port in Matakong to transport the iron ore across the country. The Manager is responsible for coordinating and evaluating the performance of the HSE Field Supervisor teams. La Convention de base du projet d’exploitation du gisement des blocs 1 et 2 du Simandou a été promulguée par le Décret No D/2020/143/PRG/SGG du 3 juillet 2020, après l’adoption par l’Assemblée Nationale (par la loi L/2020/004/AN du 26 juin 2020). Company is working on new plans to see if the mine is viable, Simandou is the world’s richest undeveloped iron ore mine. Earlier this year, Steinmetz and Guinea agreed to end their dispute in a deal that’s led mining dealmaker Mick Davis to try and develop a project there. Rio Tinto Group is looking at new ways to develop the giant Simandou iron ore deposit in Guinea that it almost sold last year, according to people familiar with the matter. The government of Guinea owns a 15% stake in the project. Projet Simandou 1 et 2 / « On a abandonné le projet pour essayer de le faire revivre maintenant, sur fond de corruption encore une fois », déplore Faya Milimono du BL Après trois mois passés à l’extérieur du pays, Dr Faya Milimono, président du Bloc Libéral (BL), a regagné la capitale guinéenne, ce jeudi 25 juillet 2019. Contact reporter Lu Yutong (yutonglu@caixin.com) and editor Gavin Cross (gavincross@caixin.com). All Rights Reserved.
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